Form 8949 (Sales and Other Dispositions of Capital Assets)
The IRS form used to report each individual sale or disposition of a capital asset, with totals flowing to Schedule D.
Detailed Explanation
Form 8949 reports the date acquired, date sold, sales proceeds, cost basis, and resulting gain or loss for each transaction. Transactions are categorized as short-term (held one year or less) or long-term (held more than one year) and as having basis reported, not reported, or not provided to the IRS. For 2025 and forward, digital asset (cryptocurrency) transactions are reported on Form 8949 with broker-issued 1099-DA reconciliation.
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Learn about Individual Tax PreparationRelated Terms
Capital Gain
The profit realized from the sale of a capital asset such as stock, real estate, or cryptocurrency, taxed at preferential rates if held longer than one year.
Tax Basis
The amount of investment in an asset for tax purposes, used to determine gain or loss when the asset is sold or otherwise disposed of.
Tax-Loss Harvesting
A strategy of selling investments at a loss to offset capital gains and up to $3,000 of ordinary income annually.
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